So from 30 September, ongoing adviser fee payment fees:
- Are dollar based and can be requested for up to 24 months.
- Will be paid on the 15th of each month, or as soon as possible thereafter.
- Will only be paid to a bank account nominated by the Licensee.
In addition, you will no longer have to provide us with fee invoices. Instead, you can request an initial advice fee and ongoing advice fees be debited from your clients’ accounts by completing and returning our Advice fee request form.
Initial or one-off fees will also be paid on the 15th each month, or as soon as possible thereafter, unless otherwise requested.
Further information on our advice fee processes can be found in our FAQs.
The ability to request initial and ongoing fees is the latest service we offer our registered advisers, and is in addition to our Adviser Online portal, dedicated business development team, and Lonsec recommended products that can help your clients reach their retirement goals.